Morgan Stanley Reports Record Earnings, Stock Slides On Surprising $911MM Archegos Loss
Bank earnings season concluded as usual with Morgan Stanley reporting record earnings that smashed on the top and bottom line, but as with other banks the stock dropped for two reasons: i) MS was, naturally, priced to perfection and ii) it reported an unexpected $911 million loss tied to the…
UMich Sentiment Disappoints In April, Inflation Expectations Spike To 9-Year High
Despite stimmy checks and soaring stocks and vaccination successes and COVID case collapse, preliminary April data from UMich sentiment survey fell short of expectations.
While the headline print rose from 84.9 to 86.5 (pandemic highs), it fell far short of the 89.0 expectation. Additionally, while…
S&P 500 in the red – unprecedented. Don‘t pin your hopes too high for a (sharp) correction though. Yes, this time stocks listened to the weakening corporate credit markets, and the daily retreat in long-dated Treasuries inspired some profit taking in tech. Quite some run there as yields stabilized, which has turned XLK from very […]
The post Stocks, Gold And Commodities Meet The Fed…
S&P 500 spurted higher after prior days of tiny gains. Still lining up the upper border of the Bollinger Bands on the daily chart, stocks keep defying gravity. But the corporate credit markets are sending a gentle warning sign as they failed to move higher in unison on Friday. [soros] Q1 2021 hedge fund letters, […]
The post Stocks or Gold – Which Is in the Catbird Seat? appeared…
The Plutocrats Of Wall Street And Silicon Valley Are Scamming America
Authored by Ryan McMaken via The Mises Institute,
In recent years, it seems that the nation’s CEOs and billionaires are increasingly willing to drop the pretense that they are politically neutral entrepreneurs who simply want to go about their business.
Last week, for example, more than a hundred CEOs met to…
S&P 500 went up yet again yesterday, and the corporate credit markets‘ non-confirmation quite resolved itself. While the same can‘t be said about smallcaps or emerging markets in the least, S&P 500 doesn‘t care, and keeps up the staircase rally without real corrections to speak of. Q1 2021 hedge fund letters, conferences and more Not […]
The post New Day, New ATHs with Gold in the…
Guns Of April And Global War
Authored by J.B.Shurk via AmericanThinker.com,
War between Russia and Ukraine looks imminent. Israel and Iran are engaging in tit for tat maritime altercations. And China is ratcheting up provocative incursions into the airspaces and waters of Taiwan, Japan, and the Philippines.
Any one of these regional conflicts is incendiary enough to ignite…
China Buys US Treasuries For 4th Straight Month Amid Record LTM Inflows Into US Equities
Amid the worst quarter for Treasuries since 1980, there was at least one big buyer.
For the 4th straight month, China bought US Treasuries in February (the latest period for which we now have data). That is the biggest holding since July 2019 and the longest buying streak since 2017.
Source:…
Watch Live: Biden Gives Speech On Russia's "Malign Influence" After Sanctions Rollout
After Biden imposed tough new sanctions on Russia in response to alleged election 'interference' and cyberhacks Thursday morning - foremost among them in response to the SolarWinds incident - the president is scheduled to follow-up with televised remarks on Russia around 4:30pm Eastern time.
LIVE…
Cryptos Crushed, Dollar Dumped, Semis Slammed As VIX Spikes
Bitcoin, the buck, bonds, big-tech (and small caps) were all sold today amid a vacuum of economic data, COVID uncertainties, and "infrastructure" bill size negotiations. It seems investors just didn't like Monday...
Small Caps were the worst performer today (and the cash open sparked chaos in that index). The Dow was the…
Goldman: The Economic Surge Is Starting To Flare Out... And Markets Are Starting To Price It In
A year ago, Goldman Sachs wrote about an adage that came to characterize the market’s response to the pandemic: "investors can not afford to wait for the resolution to a problem that they know will be resolved." And a year later, around the time Wall Street decided that covid is now behind…
The measures include for the first time far-reaching financial sanctions, including restrictions on U.S. financial institutions’ ability to trade Russian sovereign debt.
By David Enna, Tipswatch.com U.S. inflation surged 0.6% in March, the Bureau of Labor Statistics reported today, and provided the final piece of data to determine the new variable rate for U.S. Series I Savings Bonds: a whopping 3.54%, annualized, … Continue reading →
U.S. Treasury yields climb Monday as investors digest a series of auctions, including a three-year and 10-year Treasury note sale, part of nearly $270 billion in debt set to be sold this week in what's slated to be the most recent test of appetite for Treasurys.
"A Reckoning Is Coming" - Remembering Madoff And Completely False BeLIEf Systems
Authored by Sven Henrich via NorthmanTrader.com,
Yesterday’s news of Bernie Madoff passing away in prison at 82 serves as a reminder of false belief systems. You know what got him caught? Not forensic accounting, not regulators, not investors, not the Fed or the SEC. But the world’s greatest cleansing…
Former FDA Chief Warns US Will "Struggle" To Reach Herd Immunity As Vaccine Refusals Rise
Across the developing world, 130 countries have yet to receive even a single dose of any of the COVID vaccines, while the US stockpiles hundreds of millions of doses as the Biden Administration announces ever more ambitious targets, currently 200MM jabs in arms by the end of his First 100 Days (…